Real estate rates dive for third week

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Mortgages rates fell for the third consecutive week as cooling home sales and economic indicators exerted influence, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.22 percent for the week ended today, down from last week's average of 6.26 percent. The average for the 15-year fixed-rate mortgage is 5.76 percent, down from last week's average of 5.79 percent. Points on the 30-year averaged 0.5, while those on the 15-year averaged 0.6. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.79 percent this week, with an average 0.6 point, down from last week when it averaged 5.82 percent. The one-year Treasury-indexed ARM averaged 5.15 percent this week, with an average 0.7 point, down fro...